Correct Trading Strategy for AUDCAD Currency Pair

  • Jan 20 2017
  • by
  • Analyst AZA
Correct Trading Strategy for AUDCAD Currency Pair

Trading strategy and signals for the currency pair AUDCAD

Super foreign exchange advice that will lead to success.
On the forex market Australian dollar took the initiative. It began to grow in a fast manner in the last few days. It seems that the Australian is now taken advantage of the weakness of the Canadian dollar and trying to squeeze everything, as long as such a favorable situation has not ended. Traders could get wind about the growing trend of the Australian dollar before it starts. By all indications, it was evident that there was a large buyer on the currency market, and it accumulates a large position. When the price went, it all looked like an example from a textbook. Now we will try to enter the market by buying the currency pair, with a small target, because the basic movement is behind us, and we just riding up to the last couple of stems. In case of any change in the situation, which can develop counter trading plan, we will come out of the market, because the motion is already at the end of the path.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 1.0085
•    The level of profit and close the position: 1.0170 (85 pips)

Precious metal GOLD 
Possible bearish movement in the breakdown of the support level 1195

Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2240

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 1.0130

Forex currency pair EURUSD 
Possible bearish movement in the breakdown of the support level 1.0590
The very best advice for foreign exchange trading


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